ACH Push CC Payment Timeframe? (Update)

[Anonymous]

Decided to take another look through my bill pay info I noticed on the web version and not the app (why not make a dropdown for more info on the app too since it's almost literally a web portal), that it does list "Lead Days" and a quick call says that's the maximum time they have to process and clear e-payments. Paper payments are processed and supplied a tracking number in that time.

Is this just CSR talk? Dunno. But both Chase and Synch bill pay info says "Lead Time: 2 Day(s), Use Paper Payments: No" To my surprise, my Discover one says "Lead Time: 5 Day(s), Use Paper Payments: Yes" guess they don't have e-payment agreements with Discover, which is fine, I trust their online portal a lot more than I do Synch for pulls.

[NRB525]

There is a scenario #4

The dispute causes your sending bank to put a stop payment on the check they sent, the check arrives at Chase and is presented, only to see it is stopped payment. Chase shuts down your CC.

Obviously we hope that does not occur but that is a real situation recently posted here.

I never push payments.

[Anonymous]

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@NRB525 wrote:
There is a scenario #4

The dispute causes your sending bank to put a stop payment on the check they sent, the check arrives at Chase and is presented, only to see it is stopped payment. Chase shuts down your CC.

Obviously we hope that does not occur but that is a real situation recently posted here.

I never push payments

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Which would be odd since it was Chase's credit card department that suggested I do a dispute so my bank investigates. I would hope the bank would contact me before moving forward, but we shall see. If my bank would have at least been able to verify the account number on the payment, I would have felt a lot better. :/

[Anonymous]

I do want to say everyone who has presented their ideas and whatnot, I appreciate it. I take everyone's responses into consideration.

My main problem is likely me being obsessive compulsive about my finances... My father raised me and my brother in debt and died the day he was going to finally pay it all off. Then my brother is very irresponsible, he was 11k in debt with collections on him by the time he was 17. So I've pretty much drilled it into my own head that I'll never be dependent on credit, loans, etc and pretty much hawk my finances. One reason it took me until age 28 to get my first credit card. I'm better than I used to be, used to micromanage so tight I could tell you exactly to the cent what my bank account was and would be up to a week ahead, so when things don't post when they're supposed to, it sorta grates on me. Sorry if it seems like I'm being jumpy, I am trying to do better, that's one reason I joined this forum was the wealth of knowledge and kind users here. I did make sure to note on my dispute that I may have typo'd the account number and I had tried to verify it with CSR, so they might contact me about it first.

[Gmood1]

Wrong move disputing payments, especially with Chase. You're playing with fire IMHO. Best to stick with modern day tech(ACH pull from your account) and leave the postal system for mainly buying/delivering items.They can't seem to get that right half the time.I use the mail system for paying bills sometimes through Plastiq, but I have it sent two weeks in advance.

Chase is one of those banks. If you bounce a check on them. They'll bounce you right out of their CC's and bank account with not a single blink of the eye! I don't think AZEO is worth that.

Hopefully it will pan out for you. Don't let your bank cancel that check!

I paid a person through bill pay last year in October. The money showed back up in my bank account last month. lol

The guy never told me he didn't receive the check! 

[Anonymous]

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@Gmood1 wrote:

Wrong move disputing payments, especially with Chase. You're playing with fire IMHO. Best to stick with modern day tech(ACH pull from your account) and leave the postal system for mainly buying/delivering items.They can't seem to get that right half the time.I use the mail system for paying bills sometimes through Plastiq, but I have it sent two weeks in advance.

Chase is one of those banks. If you bounce a check on them. They'll bounce you right out of their CC's and bank account with not a single blink of the eye! I don't think AZEO is worth that.

Hopefully it will pan out for you. Don't let your bank cancel that check!

I paid a person through bill pay last year in October. The money showed back up in my bank account last month. lol

The guy never told me he didn't receive the check! 

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The Chase payment wasn't a check, it was an e-payment through bill pay. I had confirmed with my bank that it was processed and sent 2nd business day, and today is 2nd business day that Chase "should" have had the payment, yet they said they received no payment, pending or otherwise. Only CC that comes up as a paper check on bill pay is Discover for me, but their pull payments are next day (clear bank, and applies balance/credit), so I wouldn't dream of pushing anyway.

The details of the "dispute" was the dropdown I clicked was "Payment not received by Payee" and it said they may contact the payee on my behalf to verify the payment went through. It had the option for anything negative (like late fees) that may have happened, and I selected none. So I don't think they're going to cancel the payment, just look into it, possibly call chase to verify it.

[Gmood1]

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@Anonymous wrote:

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@Gmood1 wrote:

Wrong move disputing payments, especially with Chase. You're playing with fire IMHO. Best to stick with modern day tech(ACH pull from your account) and leave the postal system for mainly buying/delivering items.They can't seem to get that right half the time.I use the mail system for paying bills sometimes through Plastiq, but I have it sent two weeks in advance.

Chase is one of those banks. If you bounce a check on them. They'll bounce you right out of their CC's and bank account with not a single blink of the eye! I don't think AZEO is worth that.

Hopefully it will pan out for you. Don't let your bank cancel that check!

I paid a person through bill pay last year in October. The money showed back up in my bank account last month. lol

The guy never told me he didn't receive the check! 

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The Chase payment wasn't a check, it was an e-payment through bill pay. I had confirmed with my bank that it was processed and sent 2nd business day, and today is 2nd business day that Chase "should" have had the payment, yet they said they received no payment, pending or otherwise. Only CC that comes up as a paper check on bill pay is Discover for me, but their pull payments are next day (clear bank, and applies balance/credit), so I wouldn't dream of pushing anyway.

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I gotcha now. Maybe they are slower at processing payments not initiated on their end? I know they're slow at bank transfers not initiated on their side.

My advice, stick with CC initiated pulls from your account. It makes life sooo much easier. Even if you go in and manually pay monthly instead of autopay. Try not to get too carried away with paying before transactions post. lol

I've seen members here get shut down for this by certain lenders.

[FinStar]

Just out of curiosity OP, what bank is this?

[Anonymous]

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@FinStar wrote:
Just out of curiosity OP, what bank is this?

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First Tennessee Bank, subsidy of First Horizon National Corporation.

[NRB525]

Back before electronic auto payment was popular, with my large debt amounts my typical payment pattern was:
1) receive paper CC statement in the mail.
2) immediately write paper check for my intended payment amount
3) stamp and drop payment in the mail next day. Even if the payment was not due for 3 weeks, I knew it was covered. Old school push payments.

OP, I’m guessing this will work out OK, and I appreciate your sharing your details and thoughts about how you are going about this. Autopay from the CC side, and initiating pull payments ( after the charge has posted to the CC ) throughout the month is something to consider.